New York, NY - February 28, 2007 - HealthpointCapital, LLC announced today that it has closed its sale of Nexa Orthopedics, Inc. to Tornier, B.V. HealthpointCapital founded Nexa in 2004 to create the preeminent company in extremities surgery through a program of business investments, technology in-licensing and internal development. The sale of Nexa provided HealthpointCapital Partners, L.P. a 75% internal rate of return on its investment. The terms of the acquisition were not publicly disclosed.
John Foster, Chairman of the Board of Nexa stated, "We are very proud of helping to build a successful leader within the extremities market. We want to thank Nexa's management led by Paul Nichols, President and CEO, for their vision, insight and execution of a well-developed extremity strategy. We also want to thank our scientific advisors for their support and guidance in shaping Nexa to better serve the clinical community."
HealthpointCapital, LLC is a values-driven, research-based private equity firm exclusively focused on orthopedic and the broadly based musculoskeletal businesses, the fastest growing segment within the medical device industry. Our cumulative 70 years of experience in healthcare technology, research and private investing enable us to help our clients capitalize on the explosive growth and unique investment opportunities in this sector. HealthpointCapital has approximately $600 million of institutional capital under management.
